Independent Directors, Business Risk, and the Informativeness of Accounting Earnings for Debt Contracting

Using a sample of new bank loans, we investigate the impact of business risk on the usefulness of operating income after controlling for the proportion of independent directors. Consistent with the literature, our initial analyses reveal that the presence of independent directors on a board reduces...

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Veröffentlicht in:	Canadian journal of administrative sciences 2019-12, Vol.36 (4), p.559-575
Hauptverfasser:	Chu, Ling, Mathieu, Robert, Mbagwu, Chima
Format:	Artikel
Sprache:	eng
Schlagworte:	accounting information administrateurs indépendants bank loans debt‐contracting value Directors données comptables independent directors prêts bancaires risk risque valeur de l'endettement
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